Search results for SocialFi
Crypto
Coinbase CEO says Base app SocialFi features fell short of expectations
Coinbase strengthened SocialFi functions in its Base app last year but appears to have fallen short of expectations. CEO Brian Armstrong said on a recent podcast that the SocialFi experiment was not successful and the company is now focusing on trading functions. Coinbase scaled back SocialFi from January and switched to a trading-centered user experience. It also removed a Farcaster-based social feed in February, Armstrong said.
Crypto
Mask Network acquires Lens Protocol, vows to build products people actually use
Mask Network has acquired the SocialFi project Lens Protocol and will lead its development going forward, The Block reported on Monday. Mask Network said on X it plans to popularise Lens Protocol. Lens is a decentralised social media platform launched in early 2022 by Aave founder Stani Kulechov, positioning itself as an Ethereum-based Twitter. Lens grew within a year to support more than 110,000 profiles and hundreds of applications.
Crypto
Coinbase\'s Base App shifts to trading focus, scales back social features
Coinbase-led Ethereum layer-2 network Base will overhaul its Base App into a trading-first structure and scale back social functions. Base and Base App head Jesse Pollak said on X that the app is being refocused. Pollak said user feedback over recent months showed many felt the app was too social and too similar to web2, and it did not sufficiently reflect the range of high-quality assets users wanted.